By Katryna Perera (October 1, 2021, 7:10 PM EDT) — The Chancery Court of Delaware tossed a derivative suit against top investors of Talos Energy Inc. over a $1.1 billion oil field deal, saying the stockholders couldn’t establish that there were quid pro quo agreements or that two private equity sponsors acted as a control group over Talos.
Vice Chancellor Morgan T. Zurn also cited two recent Delaware Supreme Court decisions on derivative and “dual-natured” stockholder claims in her order, noting that the stockholders’ claims cannot survive based on these recent rulings.
In February, public shareholders of Talos argued that a flawed deal valuation and conflict-tainted acts led to an overpriced,…
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!
Lucknow: The Lucknow bench of the Allahabad high court while refusing anticipatory bail to a government doctor, observed that corruption was a termite in every system and once it entered the system, it went on increasing. Rejecting the anticipatory bail of a government doctor, justice Krishna Pahal observed on February 25: “Corruption is a termite […]
New Delhi: The Supreme Court on Monday allowed the CBI to proceed with the probe into the suicide of a 17-year-old girl in Thanjavur who was allegedly coerced to convert to Christianity. A bench of Justices Sanjiv Khanna and Bela M Trivedi issued notice on the appeal filed by the Tamil Nadu DGP challenging the […]